Spot iron ore prices in China remained under pressure on falling steel prices and enough supply of iron ore from Brazilian and Australian miners.
Though a large Indian miner managed to conclude 50,000 tonnes cargo of 54% Fe at $ 81-82/t (Delivered China Port) from Indian west coast.
There were few more deals concluded , Australian 61.5 Fe sold at $110/t CFR and Brazilian 64% Fe cargo sold at around $119/t CFR.
There were no deals heard for high grade from Indian exporters.Sources report Steelint that current prices are much lower than the cost price and they will prefer to hold stock for some more time.
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